Every material Form 8-K Helix Energy Solutions Group filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Helix Energy Solutions Group said CEO and board member Owen Kratz has told the board he intends to retire. He will stay in the CEO role until the board appoints a successor, and the company says it is focused on continuity and a smooth transition. The filing gives no financial results or guidance, so the main shareholder impact is the pending change in top leadership.
Owen Kratz informed the board on December 17, 2025 of his intention to retire as President and CEO.
Kratz will continue as CEO until the board appoints a successor.
Kratz joined Helix (then Cal Dive International) in 1984 and was first appointed CEO in 1997.
Board Chairman Bill Transier said the board is seeking a next CEO with proven experience as a global business leader.
Helix Energy Solutions reported third quarter 2025 net income of $22.1 million, or $0.15 per diluted share, down from $29.5 million, or $0.19 per share, in the third quarter of 2024, though revenue rose to $377.0 million from $342.4 million. The company raised its full-year 2025 Adjusted EBITDA guidance to $240 million to $270 million, which matters to shareholders because it signals stronger expected earnings for the year, while year-over-year profit declined.
Q3 2025 revenues were $377.0 million, up from $342.4 million in Q3 2024 and $302.3 million in Q2 2025.
Q3 2025 Adjusted EBITDA was $103.7 million, compared with $87.6 million a year earlier and $42.4 million in Q2 2025.
Full-year 2025 Adjusted EBITDA guidance was raised to $240 million to $270 million; full-year Free Cash Flow is estimated at $100 million to $140 million.
Cash and cash equivalents were $338.0 million at September 30, 2025, and Net Debt was negative $30.6 million.
Helix Energy Solutions reported a second quarter 2025 net loss of $2.6 million, or $(0.02) per diluted share, compared with net income of $32.3 million a year earlier, as revenue fell to $302.3 million from $364.8 million. CEO Owen Kratz said customers are scaling back spending and pushing work into 2026, and that the company has risk-assessed its 2025 outlook accordingly, which weighs on shareholders' expectations for earnings.
Q2 2025 net loss of $2.6 million, or $(0.02) per diluted share, versus net income of $32.3 million, or $0.21 per diluted share, in Q2 2024
Q2 2025 revenue of $302.3 million versus $364.8 million in Q2 2024; Adjusted EBITDA of $42.4 million versus $96.9 million
About 4.6 million shares repurchased for about $30.0 million in Q2 2025; cash and cash equivalents were $319.7 million at June 30, 2025
Management said it has risk-assessed its 2025 outlook given customer spending cuts; the filing gives no numeric guidance
Helix Energy Solutions reported first-quarter 2025 net income of $3.1 million, or $0.02 per diluted share, compared with a net loss of $26.3 million a year earlier, but revenue fell to $278.1 million from $296.2 million and free cash flow dropped to $12.0 million from $61.2 million. The CEO cited seasonal slowdowns, falling commodity prices and some customers pausing work, and said the company still expects to generate meaningful free cash flow in 2025, without giving a figure.
Net income $3.1 million, or $0.02 per diluted share, vs. net loss of $26.3 million, or $(0.17), in Q1 2024 and net income of $20.1 million in Q4 2024
Revenue $278.1 million vs. $296.2 million in Q1 2024 and $355.1 million in Q4 2024
Adjusted EBITDA $52.0 million vs. $47.0 million in Q1 2024; free cash flow $12.0 million vs. $61.2 million in Q1 2024
Cash and cash equivalents $370.0 million at March 31, 2025; net debt was negative $58.9 million
Helix Energy Solutions reported fourth-quarter 2024 revenue of $355.1 million, up from $335.2 million a year earlier, and net income of $20.1 million, or $0.13 per diluted share, compared with $29.5 million in the third quarter and a net loss of $28.3 million in the fourth quarter of 2023. For full-year 2024, net income was $55.6 million, or $0.36 per diluted share, compared with a net loss of $10.8 million in 2023, and management said it expects to increase share repurchases in 2025.
Q4 2024 revenue was $355.1 million, versus $335.2 million in Q4 2023 and $342.4 million in Q3 2024.
Full-year 2024 net income was $55.6 million, or $0.36 per diluted share, versus a net loss of $10.8 million in 2023.
Full-year 2024 free cash flow was $163.2 million, versus $133.8 million in 2023; net debt was negative $52.9 million at December 31, 2024.
The company has repurchased over $40 million of its shares and expects to increase repurchases in 2025; the results teleconference is scheduled for February 25, 2025.
On February 17, 2025, Helix Energy Solutions Group and its OneSubsea and Schlumberger affiliates signed an amendment to their strategic alliance for subsea well intervention systems. The amendment extends the agreement's ten-year term by one year, to January 5, 2026, and reflects Cameron Lux V Sarl as successor to OneSubsea B.V. The filing discloses no financial terms, so the effect on Helix's results is not quantified.
Amendment dated February 17, 2025 extends the Alliance Agreement by one year, to January 5, 2026.
The original Strategic Alliance Agreement was entered into January 5, 2015 and provided a ten-year term.
Cameron Lux V Sarl is named as successor in interest to OneSubsea B.V.
The filing does not disclose financial terms of the amendment.
Briefs filed under another ticker of the same company: HOS.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Helix Energy Solutions Group filing is on SEC EDGAR ↗. 8-K briefs of other companies →